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Seaoil puts up Mindanao terminal
Seaoil Philippines Inc. has opened a new oil terminal—its biggest so far—in Sta. Cruz City, Davao del Sur as part of efforts to make it more competitive and grow its market share in the “underserved” market of Mindanao. The P500-million bulk terminal has a 41-million liter capacity. It also has a berth that can receive vessels of up to 50,000 deadweight tonnage (DWT). It can also handle domestic size tankers for local distribution and sales. “We saw the need for the construction of a new liquid bulk storage terminal to serve the growing demand for fuel products in the Southern Mindanao area,” Seaoil COO Stephen Yu said. Seaoil now operates 10 depots and terminals across the country, representing 160 million liters of oil storage capacity. Of the 10, four facilities are in Luzon (two in Batangas, one each in Manila and Bicol) and four are in the Visayas (one in Iloilo and Negros island and two in Cebu). In Mindanao, there is one terminal in Dipolog and another in Sta. Cruz. The terminal in Sta. Cruz, which has been operating since November last year and will be formally opened this Saturday, was funded by last year’s capital expenditures of about P1 billion.
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